Skip to comments.President Obama Has Outspent Last Five Presidents (US News!)
Posted on 06/01/2012 1:01:09 PM PDT by TonyInOhio
President Obama has shelled out more in federal spending than the five presidents that came before him.
A new chart by the Comeback America Initiative (CAI), a non-partisan group dedicated to promoting fiscal responsibility by policymakers, shows federal spending by president as a percentage of GDP, and it doesn't reflect well on Obama.
"There has been a dramatic increase in spending under the Obama administration," David Walker, Founder and CEO of CAI, told Whispers. "Most of it is attributable to year one of his presidency and the stimulus... but President Obama has continued to take spending to a new level."
Federal spending was close to 20 percent under the Carter administration, dropped to 18 percent under Clinton, and is currently at an incredible 24 percent of GDP. According to the Congressional Budget Office, federal spending may hover around 22 percent for the next decade.
Federal spending is also higher this year than any year since 1949. The last time spending was higherin 1946, it was 24.8the country was just coming down from the exorbitant rates of spending during World War II.
GOP presidential candidate Mitt Romney has said he would cut federal spending down to just 17 percent of GDP.
The media will look the other way. Maybe they can talk about John Edwards or subjects people are not interested in as a distraction. The careless media will continue to not inform the public.
Jeff...great list.....may I “borrow” it to use with a conservative group we have....ammo, ya know....
Who cares! It’s mostly the money of Whites - who pay most of the taxes.
Wait until President Downgrade finds out he’s got no tax revenue.
Thanks...and I will give attribution to JEFFHEAD.COM!!!
Ms. Flock, ya think? Thanks for letting us know, Scoop. We would have never known otherwise...thanks for nuthin’.